Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action against Arrowhead Research Corp. and Lead Plaintiff Deadline of December 9, 2014

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Dec 03, 2014, 10:22 ET

NEW YORK, Dec. 3, 2014 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed in the United States District Court for the Central District of California on behalf of those who purchased shares of Arrowhead Research. ("Arrowhead Research" or the "Company") (NasdaqGS: ARWR), during the period between August 12, 2014 and October 8, 2014, inclusive (the "Class Period").

The Complaint alleges that throughout the Class Period, Defendants materially misstated clinical trial information from its experimental hepatitis B therapy ARC-520 by falsely suggesting that the Company's therapy was more effective than it actually was. On October 8, 2014, Arrowhead released disappointing data from its experimental hepatitis B therapy ARC-520. On that same day, an article published on TheStreet.com reported that Arrowhead CEO Chris Anzalone and his team knew for months that ARC-520 dosed at 1 mg/kg and 2 mg/kg yielded 0.2-log and 0.3-log reductions in hepatitis B viral load. Yet, Arrowhead executives led investors to believe that ARC-520 was more potent and achieved viral load reductions in the range of 0.7 log or higher.

On August 12, 2014, Defendants held a conference call to report on Q3 2014 earnings and the progress of the Phase IIa study. During this call, Defendants made materially false and misleading statements and/or failed to disclose the true viral reduction level that ARC-520 can induce in humans, suggesting that its viral reduction was similar to the chimpanzee result (0.8 log reduction) and closer to 1 log (90% reduction).

On October 8, 2014, the Company announced the results of its Phase IIa study, revealing that ARC-520 dosed at 2 mg/kg only induced a 0.3 log reduction in HBsAG -- far short of what Defendant previously suggested.

On this news, Arrowhead stock fell $5.48 per share, or almost 44%, on extraordinary volume from its previous closing price to close at $7.03 per share on October 8, 2014.

Plaintiff seeks to recover damages on behalf of all shareholders who purchased shares of Arrowhead Research during the Class Period described above.

No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Arrowhead Research you have until December 9, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]

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